Latest Property and Economy news from Bulgaria. News for Visitors and Investors

25.01.2008 White Fir Resort apartment lodge opens in Razlog area

Today, January 25, Colliers International Bulgaria opens White Fir Resort ski and spa apartment lodge. It’s the first suchlike apartment lodge in Europe to be managed by Colliers. This is only development of this kind in Bulgaria to be run by an international property consultancy.
White Fir Resort was developed by London-based MSI Developments. Colliers International Bulgaria is providing real estate management services, including the leasing of 135 one, two and three bedroom apartments.
White Fir Resort is situated in Razlog in the foothills of the Pirin Mountains, overlooking the Ian Woosnam golf course. Razlog is less than 10 minutes from the renowned ski resort of Bansko, 160 km from Sofia International Airport.

24.01.2008 Bulgaria properties prices increased an average 28.9% in 2007 according Bulgaria's National Statistics Institute

Bulgaria's National Statistics Institute told that properties prices in Bulgaria had, on average, growth by 28.9 per cent in 2007, compared to the year before.
Price rises in 2007 ranged between 44.3 per cent in Turgovishte to 15.6 per cent in Yambol, the NSI announced.
Ranked by price grow, Sofia was fifth with 35.1 per cent, with Vidin (36.5 per cent), Silistra (38.7 per cent), Pernik (40 per cent), Rousse (140.9 per cent) and Turgovishte ranking forward of the capital city - Sofia.
Sofia was still the most expensive place to purchase property, with an average price of 1813.17 leva a sq m, according to the Bulgaria's National Statistics Institute data.
The sea town of Bourgas was a close second with 1762.63 leva a sq m.
Other Bulgarian cities where properties’ prices were in the above-1000-leva range included Varna, Bourgas, Rousse, Stara Zagora, Plovdiv, Blagoevgrad and Pleven.
The cheapest properties were available in the Sofia region outside the capital - Sofia, where the average price was only 488.14 leva a sq m.

23.01.2008 Seven golf courses under construction in Razlog area

The Razlog mayor, Lyuben Tatarski announced that seven golf courses will be constructed on the territory of Razlog Municipality.
The first golf project in Betlovoto covers a 90 hectare-plot and is scheduled to open this spring. The project's investor is Balkanstroy.
The Kulinoto village will feature another golf course with a total area of 60 hectares.
A large golf complex, embracing more than 180 ha, will spring up in the region of Dolno and Gorno Draglishte, Dobarsko and Godlevo villages, comprising low buildings with construction density below 30 per cent. About 390 ha of agricultural land will be rezoned into plots for 18-hole golf courses. The mayor said that municipality, however, faces serious problems with agricultural land rehabilitation.

22.01.2008 Demand for office space in Sofia still outstrips supply

Companies in Sofia are in dispirited need of offices, despite 57 000 sq m of new office space entering the market in the third quarter of 2007, Kapital Weekly reports. According to MBL consultants’ data, at the moment the total volume of office space in the capital is 735 500 sq m. Office buildings are rented out long before completion and a total of 80 per cent of all real estate deals are signed off-plan.
SOURCE consultants data shows that in 2007 companies were looking for office premises of 1000 to 1500 sq m, while in 2006 companies had been asking for offices of 600-800 sq m. Companies prefer offices with central heating system, easy access, a spacious parking lot and cafes. More companies are choosing a real estate management firm to take care of their office. Office maintenance costs three euro a sq m on average.

21.01.2008 The homes in the country appreciated reasonably with 18.6 percent in 2007

The average stature of the homes in the country for 2007 of base bargains is 18.6 percent,"Address" announced today.
For the period the average rate is 737 euros per sq. m., while in 2006 it was 624 euros per sq. m.
The most sold home in last year is the two-roomed suite with price up to 60 thousand euros, the data of the agency testifies.
The specialists generalized that the old construction is the most expensive in the year, in comparison to the new construction. These homes have increased their prices in Ruse with 45 percent, Varna 41 percent and Sofia 40 percent.

19.01.2008 Foreigners wholesale search agricultural lands for bringing up energy cultures in our country

On the Bulgarian market in last year there was inpouring of foreigners, searching Bulgarian lands for bringing up energy cultures.
This became known from the year report for the incidence of EU on our farming, represented by the deputy - minister of the agriculture Bjurhan Abazov today, in the European academy in Berlin.
This became before the official open of the international statement "Green week-2008" in the german capital.
The foreign investors had worried about the uncultivated agricultural lands largely in the Danube lowland.

18.01.2008 Up to 4000 levs per decare land in Kazanluk for sale

From 200 levs-up to 4000 levs per decare agricultural land in the region of Kazanluk and the surrounding villages is being traded.
For comparison with the rates of the lands in the region in 2006, the stature in 2007 is 15 %.
The plots of land in the area of the villages Kanchevo, Dabovo and Srednogorovo are cheapest, according to the brokers, where the price per decare is commercialized by 100 until 300 levs.
The most costly agricultural lands are in the regions of Krun, Enina, Shipka, between 800-1000 levs as well as in the region of Pavel Baniya 900 - 1100 levs per decare, radio “Darik” announced.
Record levels of the prices of the lands for industrial targets discover the agents in the region.
In last year a land for construction of trade building, in the region of Kazanluk and of the road Kazanluk-Koprinka reaches 50 000 levs per decare.
An average 20 - 30 000 levs per decare is the price of a land in direction Kazanluk - Buzovgrad, where there is gigantic looking for lands for industrial targets.
The eye - catching allotments with trade determination in Kazanluk itself, have stayed levels until 500 000 leva per decare.

17.01.2008 The market of land for non economic aims in the seaside head for different

In 2007 the North-East region of the country, at the territory on which two areas with outlet fall on a black sea (Varna and Dobrich), remains attractive on the buyers that search land with goal-substitution of the purpose. 2390 such bargains on 19 533-decare plots of land are in the region in the year taken, data of investigation of the ministry of the farming and the forests on the market of land, executed by SAPI Ltd., indicates.
In comparison of 2006 the trades’ number increases itself with 18 percent and to the sold land by 35 percent.
Despite the increasing of the volumes, on the market rate is discovered drop. For last year the average market price of the land with goal-change of the purpose is 18 571 lv. per decare in the region, that is relegation in 11 of hundred with parallel to 2006.
In the region of Varna are conclude much deals – a total of 1764 of 14 031 decares. The year promotion at the number of deal-e-55,5 percent and at the size of the sold land 115 percent.
The definition of the prices is major in the area. For example in the municipality of Biala was sold 82 000 sq. m. for 125 000 lv per 1000 sq. m, while in the Municipality of Dolni Chiflik the middle level is 1500 leva per 1000 sq.m.

16.01.2008 New investments

The sock for investings in immovable real estates FearPlayProperties bought a real estate for 4.5 million levs in Saparewa Banq’s land. The plot is 60 000 sq m .For them the company has special investment aim .It will build resorts and balneotherapy sanitorium .
The project: Fear Play will keep going to bye lands close to the region where u can go to get well, in spite of this segment is new in holding pocket book. This is good investment into the establishments because Bulgaria is owner of huge potential for developing in this part.
Funds: The company design is to increase the capital whit 50.7 mln.lv. to 60.84 mln.lv. This will happened by issue produce for 10.14 mln campaign. One campaign will cost l lv. and issuing by 2.25 lv.
This is the fourth funds increase to the property holding. It expect the trade to begin in February and the whole procedure for augmentation to finished in the beginning of march.

15.01.2008 The plots in Vurshez raised in for a year 2 times

The average price of the plots in regulation are double raised in the beginning of the last year, is observed in resort “Vurshetz”.
Before one year the cost of lands for building was 21 Euro per sq. m., but now – the price is 40 Euro per sq. m.
The price of the houses in the resort are from 12 000 to 290 000 Euro. The cheapest house there that was offered for sale is old with trimmer joists. Together with the land, the house has 800 sq. m. of area. The highest offer is for luxury house that was built in 1999, which occupy 360 sq. m. of living area and 500 sq. m. of a yard.

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